Expect Tech Mahindra to hit Rs 576, like TCS, Wipro: Bhamre

Siddarth Bhamre of Angel Broking told CNBC-TV18, "We remember how people were disappointed with the last quarterly results of Tech Mahindra and the stock crashed and the management gave somewhat negative or cautious stance for the coming quarters. Therefore, the expectation from Tech Mahindra is not very great and we are seeing some kind of positions getting build-up in this counter.""On price moment perspective, we are seeing some upside tractions and some formation of long positions. I do not think we would have same kind of results, what we saw last quarter but I am expecting the stock to move prior to results and probably after results also on the upside. We do not have aggressive target here," he said."We like other names also in the sector like Tata Consultancy Services (TCS). We also like Wipro at current level of Rs 570-575 but predominantly from a very short-term perspective Tech Mahindra has better chance of giving fast returns. Therefore, I am expecting Rs 576 and fix stop around Rs 539."